Nifty : 28 - Jul - 2017 (+16)

Nifty : 27 - Jul - 2017 (+8)

Nifty : 25 - Jul - 2017 (-11)

Nifty : 24 - Jul - 2017 (+7)

Bank Nifty : 21 - Jul - 2017 (+2)

Nifty : 21 - Jul - 2017 (No Trades)

Nifty : 20 - Jul - 2017 (+8)

Nifty : 19 - Jul - 2017 (-1)

Nifty - Market Commentary

10:05 AM: After reversal day, yesterday, nifty gapped up and sustained so far. IR (9883-9866) formed with in yesterday zone. Above IRH, 9895-9905 is resistance zone. Below IRL, 30 points slide possible.

10:55 AM: Trade 1 – BOF of IRH short at 9878 with Initial SL 9885, FTA DL/IRL 12 points away… will scratch price reverses from FTA

11:30 AM: Exited with loss of 9 points

12:13 PM: Price moving in a channel now, drawn it. My earlier trade looks mediocre now, after channel is emerged

12:20 PM: Channel’s upper boundary is close to resistance zone drawn in morning (9895-9905), let’s see PA here.

13:55 PM: Price gave TST to 9895 and broke channel on downside; not comfortable with PA so far… watching sidelined. Looking for PA once price reached zone of 9895-9905

14:55 PM: Trade 2 – BPB of PDH long at 9908 with Initial SL 9898, expecting short covering to cover yesterday’s Gap

14:58 PM: Moved SL to 9904, below BO candle low

15:09 PM: Moved SL t0 9911, below PB low

15:20 PM: Auto squared off at 9918; exited with gain of 8 points

Points earned:  -1

Nifty : 18 - Jul - 2017 (No Trades)

Nifty - Market Commentary

9:50 AM: Counter Trend gap down, but price recovered from DO itself and reached BRN now… as long as PDL not concurred, bias is down

11:15 AM: Didn’t get opportunity to short, as price reversed from BRN itself, without giving proper setup. Now price took support at 3 days low, 9858.

11:20 AM: Not expecting V shape reversal now, probably another failed attempt to break DL is good opportunity to long

13:27 PM: Waited for BOF signal of DL, but price gave TST and reversing

14:50 PM: I was waiting for PA at DH or PDL. Without giving any chance, nifty sold off.

15:30 PM: Disappointing day, price moved well in both directions... couldn’t make any entry

Nifty : 17 - Jul - 2017 (-6)

Nifty - Market Commentary

9:55 AM:  9928-9906 is the range formed above PDH, so far. Will look for BOF of RL or PDH

13:10 PM: Adjusted RH to 9923 as price resisted couple of times at this level, we may get BPB long opportunity

14:07 PM: Trade 1 – BPB of RH long at 9930 with Initial SL 9922, FTA RN 20 points away.

14:31 PM: Moved SL to 9926, low made before broking out

14:40 PM: Exited with loss of 6 points

14:50 PM: Bad luck, price moved after taking me out. Done for today.

Points earned:  -6

Bank Nifty : 14 - Jul - 2017 (-7)

Bank Nifty - Market Commentary

9:40 AM: Trading within 2 BRN’s, and PDH/PDL... will see PA at PDH/PDL.

10:00 AM: After breaking PDL and BRN, price stalled around BRN… will see If BOF of PDL long emerges

11:06 AM: Trade 1 – BOF of PDL/BRN long at 23938 with Initial SL 23798, FTA is MSP, just 20 points away... expecting good order flow break this level. Else will look to scratch.

11:30 AM: Moved SL to 23933, below low made before MSP attempted, as price unable to break MSP with sufficient order flow.

11:33 AM: Exited with loss of 7 points

12:05 PM: Bad luck, after taking me out... BNF moved nearly 100 points in a single bar.

14:00 PM: Waited for BOF of PDH signal, avoided as no PB happened

14:45 PM: Expecting no more trade signals now’ Done for today.

Points earned:  -7

Nifty : 14 - Jul - 2017 (No Trades)

Nifty - Market Commentary

9:40 AM: Nifty rejected from BRN/PDH at open, gave a PB till PDC and stalled now. Will wait to see how price behaved at PDH/PDL now. Going by bias so far, looking for short entry

10:00 AM: Gave TST to PDC and start sliding, will see PA at PDL, below PDL 40 points gap there.

10:55 AM: Price approaching PDL, making Lower highs and lows. Will look for BPB short entry below PDL

11:10 AM: Again, price gave TST to PDL and started moving up

13:00 PM: Nearing to PDH, price started ranging. Will wait for PA at PDH

14:44 PM: Price not attempted PDH, done for today.

Points earned:  0

13 - Jul - 2017 (No Trades)

Nifty - Market Commentary

9:55 AM: Trend gap up; will look for BOF of RL long

12:00 PM: Avoiding BOF long signal, due to space

12:55 PM: Extended range to DL

14:30 PM: BOF of RH/DH signal, but swing low formed almost in middle of day’s range. Not work of risk. Avoiding

10 - Jul - 2017 (No Trades)

Market Commentary

9:36 AM: Trend gap up above PDH and price broke BRN well and sustained. Good BPB setup at Open, couldn’t attempt as I was not ready for it. Seems some data feed issue with NSE, NS not getting updated

9:40 AM: As bias is up, look for BOF of RL (Or) Enter long on TRAP (BOF of MSP) – BRN is MSP now (Or) BPB of RH

9:45 AM: Price started ranging now, drawn 9717-10.

10:00 AM: NSE Derivative stopped updating now. Is this after effects of P-Notes ban in derivatives?

12:49 PM: Started working now. 9719-9708 is the range to lookout for

13:12 PM: Missed BPB long trade above RH as I waited for PB before placing order. Now price near to ATH

14:30 PM: Straight line up move, bad luck... couldn’t enter at start.

07 - Jul - 2017 (+11)

Market Commentary

9:31 AM: Day trend up, Intraday bias is neutral as price strongly rejected from BRN yesterday + DO below PDC, near to PDL + IR formed below PDC and closing range. Look for PA at DO/DL/PDL

9:34 AM: Looking for buy signal, either as BOF of PDL/DO/IRL or BPB of IRH/PDC

10:12 AM: Trade 1 – BOF of PDL long at 9653 with Initial SL 9644 (below DL), FTA IRH/DH 15 points away.

10:18 AM: Ideal entry should be at 9656 (above 1o:03 pin bar high), however my SL honored

10:27 AM: Moved SL to 9646, below PB low

10:44 AM: Moved SL to 9648, below recent swing low

11:23 AM: Moved SL to 9653, near to cost... after price broke from 45 minutes’ consolidation

13:50 PM: Moved SL to 9663 after BO above DH/IRH/PDC

14:23 PM: Moved SL to 9666 (below PDC, morning high), price seems to be reversing.

14:40 PM: Exited with gain of 11 points. Done for today

Points earned:  +11

06 - Jul - 2017 (+21)

Market Commentary

9:24 AM: NF struggling to cross PDH and moving back and forth around PDC, DL is the resistance price broke during closing time yesterday.

9:35 AM: Trade 1 – BPB of PDH long at 9654 with Initial SL 9645, FTA BRN 46 point away.

<< Thought Process behind this trade “Trend – Bullish, Bias – Upside as price broke PDH, Good Location, BPB is confirmed setup, risk is under 10 points, FTA far away, prices broke after 2 days of consolidation” >>

9:40 AM: Moved SL to 9648, below PDH

9:52 AM: Moved SL to 9654, near to cost. Rom Now I look to hide SL behind swing points, 

expecting price to move up with orderly pullbacks.

10:06 AM: Moved SL to 9656, break even. No much momentum so far

10:24 AM: Moved SL to 9660, as price broke DH

11:09 AM: Moved SL to 9669, below recent swing low

11:45 AM: Drawn range 9683-70, let’s see if BOF of RL signal comes… giving re-entry chance if SL hit. If sharp fall below MSP/RL, I will be out of profiting trade. else I will look to take long trade on BOF signal

12:21 PM: Recent Impulsive wave turned out to be range, indicating bulls losing strength. A counter trend short is not a bad idea if BOF of DH comes, but I will stick to existing position.

12:32 PM: Moved SL to 9677, below low made before breaking RH/DH

12:47 PM: Exited with gain of 21 points

13:51 PM: Waited for BOF of RL signal, which not happened so far.

14:10 PM: Missed to place BPB of DH long order on time, let’s see PA at BRN

15:00 PM: Looks like BOF of BRN signal coming, but I am avoiding new positions at this point of time. Done for today.

Points earned:  +21

05 - Jul - 2017 (No Trades)

04 - Jul - 2017 (-14)

Market Commentary

9:34 PM: Price opened near PDC, attempted PDH…gave BPB of PDC signal, ignored as I am expecting some range formation or consolidation before any decisive move. we have seen good trend day yesterday.

9:38 AM: IR (9638-17) formed with in PDH/PRL, coinciding with closing range. bullish bias above PDH/IRH.

9:50 AM: Trade 1 – BPB of PDH / IRH long at 9638 with Initial SL 9628, FTA RN 12 points away. Will attempt as the signal is coming with trend and above PDH

10:00 AM: Moved SL to 9632, as PDH acted as support/flip during PB. To continue bullish bias, this level should hold

10:13 AM: Exited with loss of 8 points

10:25 AM: BOF of PDH short signal, ignored as price may be forming BW and I just had a hot. Need to take a break

11:30 AM: 9618-9600 is 2^nd range formed, below morning range 9643-18. Will look for good signals at lower range extreme now.

12:45 PM: Missed BOF of BRN signal as I was away from desk

14:12 PM: 3^rd attempt to break PDH seems to be failing, as 2 upper tails formed

14:20 PM: Trade 2 – BOF of PDH short at 9631 with Initial SL 9637, FTA swing low 9620 is 10 points away, will look to scratch if doesn’t work

14:40 PM: Moved SL to 9635, price refusing to go away from PDH

14:42 PM: Exited with loss of 6 points

14:45 PM: Done for today, as 2 SL hit.

Points earned:  -14

03 - Jul - 2017 (+17)

Market Commentary

9:34 AM: Counter trend gap up after attempting reversal pattern on Friday, but upper long tail bar formed at open and after PB. prices not moving quickly above swing high. will wait for consolidation and range formation

9:39 AM: IR (9555-39) formed above PDH and closing range… bias is bullish as of now

9:58 AM: Price gave TST and gave BO above IRH, both signal I was not ready to take. BPB and BOF signals were easy to take as they come with confirmation.

10:46 AM: Seems day going to be Type 1 trend day, unfortunately couldn’t take an early entry.

12:00 PM: Waited for TST to BRN before placing order, price moved with no PB

13:40 PM: Looking for BOF of MSP/BRN long signal, but price seems to be sustaining below

14:10 PM: Trade 1 – BOF of MSP/BRJN long at 9605 with Initial SL 9696, FTA DH 20 points away (This is good example for TRAP pattern)

14:18 PM: Moved SL to 9598

14:27 PM: Moved SL to 9605, near to cost

14:50 PM: Moved SL to 9607, to cost.

15:22 PM: Auto squared off at 9624

Points earned: +17